Looking after our valued customers all the way
We welcome new customers to AMC, but we also like to ensure that our current customers receive good service and access to the finance they need to grow.
We take satisfaction from seeing these plans develop, and that’s why we want to be with you all the way, through good times and bad.
If you're already an AMC customer, we’ll do everything we can to approve extra funds with minimum fuss and paperwork.
Change your agreement
Changes in circumstances – whether that’s around family or business – can mean your funding needs to alter too. We’re always happy to discuss changing your loan to fit your new situation.
Change your agreement
Repaying your loan early
There may be a charge for this, so please take a look at the fees on our Business Tariff or contact us for full details. A variable rate loan can be repaid early with no charge (unless the security property is also being discharged, in which case a handling fee will apply). Fixed rate loan* repayments may also incur a redemption charge.
Changes to property or land held as security
If you want to develop or rent out land that forms part of your loan security, it could affect its value. We will therefore need to assess that impact, but rest assured that we’ll do our best to support your proposal.
If you want us to release part of the security and the overall value is affected, again we’ll need to assess your proposal. If fees are involved, however, we’ll keep them to a minimum. Please look at the fees on our Business Tariff or contact us for details.
We won’t object if your bank wants to take a second charge over land or property held as security for an AMC loan, as long as our charge has priority.
Please contact us if you do have plans that may affect our security. We need to ensure that the ratio between the value of our security and your loan will still be acceptable.
Endowment policy maturity
When a policy supporting an endowment loan matures, the proceeds are normally used to repay the borrowing. You then receive any surplus funds.
Change of ownership
This might result from retirement or death, from the introduction of a new partner, or as a result of retirement planning or tax management.
Please keep us informed. We’ll work closely with you to ensure the loan-to-value ratio of the security is maintained.
When you need more, just ask
As an existing customer, you could be eligible for a priority loan on top of your current borrowing. It means we’ll do all we can to say yes, and then make the process as easy as possible.
You may be eligible if:
- your total loans from us are less than £250,000 (including your new loan).
- you’ve been with AMC for two years or more.
- your security is at least double the value of the total debt (including the new loan).
- you still meet our lending criteria.
Even if you can't tick all those boxes, we may still be able to help. Just contact us for a no-obligation discussion about what you’re trying to achieve and how we can help.
Because we’re a specialist farm lender, we speak to more than 3,000 farmers a year about their plans. It means we’ve probably had experience of a proposal similar to yours and can share that expertise with you.
Before you call, it helps us to help you if you have some basic information to hand when you call:
- Details of your business – such as the acreage and types and sizes of your main activities
- An outline of your proposal
- Details of your assets and liabilities – including mortgages, loans, hire purchase and leasing arrangements
- A snapshot of the financial performance of your existing business – including turnover, net profit, drawings and depreciation figures
When your needs change, so can we
If you want to increase or decrease your repayment amount, for example, we might be able to adjust the loan term.
You can alter the type of interest you pay at any time, by converting from variable to fixed, or from fixed to variable.* Remember that there may be a redemption cost to pay, however.
Find out more about the two types of interest
* There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate.